Country: Hong Kong
Year: 2014
Concept
- Monexo offers online Peer to Peer lending solutions connecting lenders and borrowers via its online platform
- Lending requests are displayed on the Monexo marketplace, allowing lenders to choose their clients
- The company provides 6 to 48 month loans to small and medium enterprises and their employees
- The Hong Kong based company operates locally and in India
- Monexo raised $500,000 in December 2014
Consumer Benefits
- Fast: 10 minutes to create an account and begin to lend or borrow
- Safe: Monexo screens users on financial and non-financial criteria to limit risks for both lenders and borrowers
- Win-Win: low rates and easy application for borrowers and higher financial returns for lenders than with classical savings
How It Works
- Users create an account in less than 10 minutes on the Monexo website
- Lenders select their borrowers through the list available on the platform
- Once their selection is made, money is transferred to a third party which executes transactions
- Then, each month the lender earns repayments